https://www.taxtmi.com/caselaws?id=212876 The Tribunal ruled in favor of the assessee, holding that the disallowance under section 40(a)(ia) for non-deposit of TDS before the due date was not justified. The Tribunal relied on a decision by the Calcutta High Court and directed the AO to delete the disallowance of Rs. 60.91 lakhs. Regarding the retrospective application of the amendment by the Finance Act, 2010, the Tribunal followed the Calcutta High Court's decision, holding that the amendment was prospective. As a result, the disallowance of Rs. 58,05,328 under section 40(a)(ia) was deleted. en-us Fri, 30 Mar 2012 00:00:00 +0530 Wed, 10 Apr 2019 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212876 The Tribunal ruled in favor of the assessee, holding that the disallowance under section 40(a)(ia) for non-deposit of TDS before the due date was not justified. The Tribunal relied on a decision by the Calcutta High Court and directed the AO to delete the disallowance of Rs. 60.91 lakhs. Regarding the retrospective application of the amendment by the Finance Act, 2010, the Tribunal followed the Calcutta High Court's decision, holding that the amendment was prospective. As a result, the disallowance of Rs. 58,05,328 under section 40(a)(ia) was deleted. Case-Laws Income Tax Fri, 30 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212876